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Granules India Limited
(GRANULES)
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Rating:64Neutral
Price Target:
₹904.00
▲(8.44% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by stable financial performance (renewed revenue growth and conservative leverage), partially offset by cash-flow volatility and signs of margin pressure. Technicals are supportive on a longer-term basis but mixed in the near term, while valuation is the main headwind due to a higher P/E and minimal dividend yield.
Positive Factors
Revenue Growth Resumed
The return to revenue growth indicates resilient demand across Granules India's generic medicines and ingredients portfolio. Sustained expansion would improve operating leverage and support investment in manufacturing capacity and regulated-market opportunities.
Negative Factors
Margin Pressure
Lower gross profit amid revenue growth suggests cost headwinds or weaker mix, which can reduce the benefit of scale. If persistent, margin pressure could constrain reinvestment, earnings growth, and the returns available from expanded manufacturing capacity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Resumed
The return to revenue growth indicates resilient demand across Granules India's generic medicines and ingredients portfolio. Sustained expansion would improve operating leverage and support investment in manufacturing capacity and regulated-market opportunities.
Read all positive factors
Granules India Limited (GRANULES) vs. iShares MSCI India ETF (INDA)
Market Cap
₹210.03B
Dividend Yield0.2%
Average Volume (3M)39.77K
Price to Earnings (P/E)31.4
Beta (1Y)0.82
Revenue Growth24.83%
EPS Growth36.88%
CountryIN
Employees4,057
SectorGeneral
Sector StrengthN/A
IndustryDrug Manufacturers - Specialty & Generic
Share Statistics
EPS (TTM)21.14
Shares Outstanding247,796,920
10 Day Avg. Volume80,749
30 Day Avg. Volume39,769
Financial Highlights & Ratios
PEG Ratio1.38
Price to Book (P/B)2.97
Price to Sales (P/S)2.81
P/FCF Ratio125.49
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)32.74
Revenue Forecast (FY)₹62.74B
Granules India Limited Business Overview & Revenue Model
Company Description
Founded in 1984 and headquartered in Hyderabad, India, Granules India Limited operates as a key player in the pharmaceutical sector. The company is engaged in the manufacturing and global distribution of a diverse range of pharmaceutical products,...
How the Company Makes Money
Granules India makes money primarily by manufacturing and selling pharmaceutical products across three main revenue streams: (1) Finished Dosage Forms (FDF): Revenue is generated from the sale of ready-to-consume generic medicines (commonly oral s...
Granules India Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 48.40B | 53.66B | 44.82B | 45.06B | 45.12B | 37.65B |
| Gross Profit | 29.65B | 23.05B | 26.25B | 23.76B | 21.20B | 17.97B |
| EBITDA | 9.73B | 11.95B | 9.30B | 8.48B | 9.13B | 7.26B |
| Net Income | 5.13B | 5.95B | 5.02B | 4.05B | 5.17B | 4.13B |
Balance Sheet | ||||||
| Total Assets | 69.44B | 77.20B | 62.53B | 55.21B | 49.05B | 45.13B |
| Cash, Cash Equivalents and Short-Term Investments | 6.26B | 9.49B | 5.96B | 3.81B | 2.92B | 3.96B |
| Total Debt | 18.07B | 15.12B | 14.55B | 13.15B | 11.36B | 11.06B |
| Total Liabilities | 29.61B | 26.35B | 25.37B | 22.95B | 20.70B | 19.26B |
| Stockholders Equity | 39.83B | 50.85B | 37.16B | 32.26B | 28.35B | 25.87B |
Cash Flow | ||||||
| Free Cash Flow | 1.49B | 1.20B | 1.95B | 588.38M | 4.52B | -656.53M |
| Operating Cash Flow | 4.74B | 6.78B | 7.67B | 4.39B | 6.64B | 3.32B |
| Investing Cash Flow | -4.99B | -7.79B | -6.95B | -3.60B | -964.52M | -3.80B |
| Financing Cash Flow | 1.59B | 5.00B | 109.58M | 76.64M | -5.19B | 1.90B |
Granules India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹167.82B | 27.89 | ― | 0.36% | 7.93% | 21.51% | |
66 Neutral | ₹290.51B | 58.36 | ― | 0.15% | 78.33% | 182.61% | |
64 Neutral | ₹210.03B | 31.40 | ― | 0.20% | 24.83% | 36.88% | |
64 Neutral | ₹951.27B | 25.83 | ― | 0.24% | 9.09% | 9.61% | |
60 Neutral | ₹994.17B | 90.86 | ― | 0.11% | 22.62% | 114.66% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
45 Neutral | ₹147.14B | 41.82 | ― | 0.52% | 16.27% | -23.50% |
* General Sector Average
IN:GRANULES
Granules India Limited
866.65
343.79
65.75%
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Granules India Limited Corporate Events
Granules India Publishes Q1 FY27 Earnings Call Transcript for Investors
Jul 27, 2026
Granules India Limited has released the official transcript of its Q1 FY27 earnings conference call and uploaded it to the investor resources section of its website for public access. The disclosure has been made in compliance with SEBI’s li...
Granules India Wins Sole First-to-File Status for U.S. Sodium Oxybate Generic
Jul 6, 2026
Granules India Limited has secured sole First-to-File status for its Abbreviated New Drug Application for Sodium Oxybate Extended-Release oral suspension, the generic version of LUMRYZ indicated for narcolepsy-related cataplexy or excessive daytim...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.